As the Chinese Foreign Ministry, citing World Bank data, notes, the BRI has increased trade for participating countries by an average of 4.1%, attracted 5% more foreign direct investment, created 3.4% more GDP for low-income countries, and increased the GDP share of emerging and developing economies by 3.6% from the years 2012 to 2021. All told, the BRI is anticipated to generate $1.6 trillion in revenue each year by 2030. This has been an absolutely incredible boon for the world, particularly the Global South.
The World Bank also notes that the BRI will have helped 40 million escape poverty between 2015 and 2030. By the end of 2022, Chinese investment through the project has created 421,000 local jobs and successfully implemented over 3,000 projects. Most of these projects have been aimed at interconnecting global trade and solving practical issues related to people’s quality of life.
